Of the top 100 companies in NZ, only seven have a higher profit as a share of revenue than the Waipareira Trust. So this taxpayer funded charity is making a higher profit than 93% of the top 100 companies in NZ.
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David Farrar runs Curia Market Research, a specialist opinion polling and research agency, and the popular Kiwiblog where this article was sourced. He previously worked in the Parliament for eight years, serving two National Party Prime Ministers and three Opposition Leaders.
6 comments:
Wow, great work David. What is going on here?
Why is my money being used to fund a radical organization that wants to destroy me and people like me? Enough is enough.
This organisation does not pass the pub test.
There's nothing wrong with a charity making a profit; it's the way they spend the profit that determines their charitable status. If the surplus is applied to one or more of the four heads of charity then that's fine. If the trust is simply used as a cash cow to redirect funds to the trustees and office holders then that's another issue altogether. But isn't the Registrar of Charities supposed to keep an eye on that already?
And this astonishing result while Tamihere & whanau each pull $500k in salaries!
I suppose, you could say they're worth it achieving this sort of performance.
But we all know the real story and it's rorting the taxpayer.
They don’t pay any tax because they’re a charity yet our taxes fund them to fund what exactly . Is there a legitimate list of the charities they support , can the public & MSM see a legitimate balance sheet ?
Registrar of Charities seems to be keepung a very low profile with all of these Trusts. Would be nice to hear they are all being watched & are operating as they should.
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